Australia Generics Market Summary, Competitive Analysis and Forecast to 2027

Key Highlights

• For the purposes of this profile, a generic drug is defined as a copy of an ethical (prescription) drug formerly protected by patents that have now expired. Both unbranded generics and branded generics are included in our market scope. However, off-patent drugs that continue to be offered by the original manufacturer under the original name, and which form part of the 'generic-eligible' market, are not included. The market value is evaluated at ex-factory prices.
• The Australian generics market had total revenues of $2.0 billion in 2022, representing a compound annual growth rate (CAGR) of 6.4% between 2017 and 2022.
• Market consumption volume increased with a CAGR of 5.3% between 2017 and 2022, to reach a total of 75.2% in 2022.
• Australia has in place the Generic Medicines Working Group (GMWG) which is responsible for policy development and discussion aimed at promoting the use of generic medications in Australia. Such efforts are boosting the country’s generics market.

Scope

• Save time carrying out entry-level research by identifying the size, growth, and leading players in the generics market in Australia
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the generics market in Australia
• Leading company profiles reveal details of key generics market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the Australia generics market with five year forecasts

Reasons to Buy

• What was the size of the Australia generics market by value in 2022?
• What will be the size of the Australia generics market in 2027?
• What factors are affecting the strength of competition in the Australia generics market?
• How has the market performed over the last five years?
• How large is Australia’s generics market in relation to its regional counterparts?